Pound Sterling rose after the UK's GDP rose more than expected in May, lessening the odds of an interest rate cut on August 1.
Analysts at Capital Economics say Pound-Euro could now be set for a protracted spell of depreciation.
The British Pound was boosted Monday after a Bank of England interest rate setter said it is too soon to cut interest rates next month.
Pound Sterling: Labour Landslide Win Underpins Constructive Outlook Against Euro (and Maybe the Dollar)
- Category: GBP
The British Pound is unresponsive to news Labour has won a landslide General Election.
- Election Day: Pound Sterling vs. Euro and Dollar Predictions
- Political Stability Bags Pound Sterling an Upgrade against Euro and Dollar
- Pound Sterling Firms: Rising Incomes and Falling Inflation Boost UK Economic Growth
- Pound Sterling Pressured By Euro and Dollar as Global Markets Fear Inflation's Return